Optiwatt is a smart charging platform that automatically schedules electric vehicle (EV) charging based on real-time electricity rates, optimizing for cost savings and environmental impact. By connecting to utility accounts, it enables users to reduce their EV charging costs by up to 70%, averaging $388 in annual savings while tracking home energy usage.
Funding
$7M raised to dateRaised to date based on public sources. This may differ from the amount the company actually raised and is based only on what is publicly available on the internet.
Founders
Product
Problem
Electric vehicle (EV) owners often lack an efficient way to optimize charging schedules based on fluctuating electricity rates, leading to higher energy costs and potentially increased environmental impact. Existing EV charging solutions may not fully integrate with utility rate plans or provide the flexibility to align charging with periods of lower grid emissions.
Solution
Optiwatt is a smart charging platform that automates EV charging by connecting to utility accounts and leveraging real-time electricity rates. The platform enables users to reduce charging costs by automatically scheduling charging sessions during off-peak hours when rates are lowest. Optiwatt integrates with various EV brands and supports time-of-use, tiered, and real-time energy plans, providing flexibility and convenience. By optimizing charging schedules, Optiwatt helps users save money, reduce their carbon footprint, and track home energy usage.
Target Audience
Optiwatt primarily targets electric vehicle owners seeking to minimize charging costs, reduce their environmental impact, and efficiently manage their home energy consumption.
Features
- Real-time tracking and forecasting of electricity rates to optimize charging times
- Automated integration with utility accounts to access accurate rate information
- Customizable charging schedules with flexible "Ready By" times for each day of the week
- Smart charging options to optimize for cost savings or reduced emissions
- Battery preconditioning feature to warm the battery pack before departure, improving performance in cold weather
- Support for multiple EV brands and models, allowing users to manage all their vehicles under one account
- Home energy usage tracking to monitor and manage overall energy consumption
- Integration with smart thermostats for further cost savings